Fidel Castro steps down after nearly 50 years

Cuban leader Fidel Castro has announced his retirement after half of century of iron rule over the Carribean nation.

Transcript

LEIGH SALES: Fidel Castro has resigned as Cuban president, leaving the way open for a new head of state for the first time in almost 50 years.

In a letter published by the ruling Communist Party, the 81-year-old revolutionary leader admitted his failing health prevented him from fulfilling his presidential duties, but promised he would be a "soldier of ideas" and continue a prominent role in politics.

His withdrawal from office cements the transfer of power to his 76-year-old brother Raul that took place in 2006 when Castro first underwent bowel surgery.

Mr Castro seized office on New Year's Day 1959, and has survived several assassination attempts and a US-backed invasion.